Bank of America (NYSE:BAC) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.
Several other equities research analysts have also recently weighed in on BAC. JPMorgan Chase & Co. boosted their price objective on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their target price on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wolfe Research downgraded Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Daiwa Securities Group decreased their price target on Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Finally, Barclays lifted their price objective on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.88.
View Our Latest Stock Analysis on BAC
Bank of America Price Performance
Bank of America (NYSE:BAC – Get Free Report) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the firm posted $0.82 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts forecast that Bank of America will post 3.7 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,832 shares of company stock valued at $11,094,960 over the last three months. 0.30% of the stock is owned by company insiders.
Institutional Trading of Bank of America
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Permanent Capital Management LP acquired a new stake in Bank of America in the 3rd quarter worth approximately $649,000. Meridian Wealth Management LLC increased its stake in Bank of America by 54.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after purchasing an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. increased its stake in Bank of America by 15.9% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock valued at $32,482,000 after purchasing an additional 86,290 shares in the last quarter. World Equity Group Inc. raised its holdings in shares of Bank of America by 21.8% in the third quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock worth $3,779,000 after buying an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Bank of America during the third quarter worth $482,000. Institutional investors own 70.71% of the company’s stock.
Trending Headlines about Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America formed a Private Capital M&A Group to help private equity firms exit portfolio companies — a move that can drive higher advisory fees and deal flow in investment banking if it wins mandates. Bank Of America Launches Private Capital M&A Unit
- Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey for advisors — a scalable productivity tool that could improve advisor efficiency, client retention and margins across wealth management. This supports recurring-fee growth and cost savings over time. Merrill and Bank of America Private Bank Launch AI-Powered Meeting Journey
- Neutral Sentiment: Coverage notes and pieces highlighting BofA’s positioning in financials/XLF (and as an XLF holding) underline its role as a core bank exposure but don’t change fundamentals immediately — useful context for sector flows. Financials Are Down Big This Year. The XLF Affords an Opportunity
- Neutral Sentiment: Reports note BofA is balancing an Epstein-related settlement with continued investment in AI/tools — a combination of one-time costs and strategic tech spend. The net impact depends on settlement size, timing and revenue/cost benefits from tech initiatives. Bank Of America Balances Epstein Settlement With New AI Advisor Tools
- Positive Sentiment: Jefferies initiated coverage with a Buy and $60 price target — a fresh buy-side vote that can support sentiment and attract investors. Jefferies Starts Coverage: Buy $60 PT
- Negative Sentiment: Goldman Sachs trimmed its price target on BAC to $57 (from $67) while keeping a Buy — the cut reduces near-term upside in sell‑side consensus and can pressure sentiment. Goldman Sachs Lowers Bank of America (BAC) Price Target to $57
- Negative Sentiment: Ongoing sector headwinds — weaker net interest margin pressure, a soft mortgage market and a YTD lag in financials — continue to weigh on bank multiples and likely cap near-term upside for BAC until NIM or deal pipelines improve. Financials Are Down Big This Year. The XLF Affords an Opportunity
About Bank of America
Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.
Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.
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